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Credit Suisse Downgrades Amerprise Financial on a Valuation Call (AMP)
Analysts at Credit Suisse downgraded financial planning company Ameriprise Financial, Inc. (AMP
) on Tuesday due to the recent 16% run up of shares over the past two months.
The analysts downgraded AMP from “Outperform” to “Neutral” and see shares reaching $67. That target suggests a +2.7% upside to Monday’s closing price of $65.25.
Amerprise shares were flat in premarket trading on Tuesday. The stock is up +27.72% over the past year.
The Bottom Line
Shares of Ameriprise Financial (AMP) have a 2.76% dividend yield, based on last night’s closing stock price of $65.25. The stock has technical support in the $60-$61 price area. The shares are trading near all-time highs.
Ameriprise Financial, Inc. (AMP) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
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